Friday, February 7, 2020

Retail Continues to Be a Drag on a Generally Strong Labor Market

Footwear News
Despite an arguably strong overall labor market, troubles in the retail sector are proving persistent.

Retail trade noted a loss of 8,300 jobs — a month after the surge in December hiring during the holiday season. Clothing and clothing accessories stores logged a 4,600 decrease in jobs, partially offsetting the 5,500 increase in sporting goods stores. Further, general merchandise stores lost 14,400 jobs: Department stores posted a 16,900 loss in jobs, while warehouse clubs and supercenters improved 2,500. (Non-store or online retailers and miscellaneous store retailers saw little change.). . . more